Sen. Tom Udall (D-NM) spoke in favor of increasing the federal minimum wage in a speech on the Senate floor Tuesday.

Udall is a cosponsor of the Minimum Wage Fairness Act, a bill to increase the minimum wage to $10.10 per hour over the next two years. The Senate is scheduled to consider the bill this week.

“Seven dollars and 25 cents may just be a number to some, but not for so many families in my state – struggling to get by,” Udall said in his speech. “It means working two or three jobs just to put food on the table, or fill up the gas tank, or buy clothes for their children, and still not be able to climb out of poverty. Our nation was founded on a basic promise that no matter who you are – if you work hard – you can get ahead. We haven’t always kept that promise. We have the opportunity to do so this week for millions of hardworking men and women – young and old – who are paid the minimum wage.”

Udall’s bill, if made law, would tie the minimum wage to the Consumer Price Index in following years after it was raised gradually during the first two years.

The senator said the result would add more than $200 million to the income of New Mexico workers and boost New Mexico’s Gross Domestic Product by $127 million.

About 147,000 New Mexicans would receive a raise if the minimum was raised.